One of the largest Japanese banks began bankruptcy proceedings

Bank Nihon Ginko Cinco "and one of the largest in Japan, on Friday began bankruptcy proceedings. In accordance with the order of the Japanese Ministry of Finance, the Bank has suspended all operations, ITAR-TASS.

According to newspaper Nikkei, losses Nihon Ginko Cinco "in the first half of fiscal year 2010 amounted to more than 150 billion yen (nearly 1.8 billion dollars), which forced the Finance Ministry to start the process of bankruptcy. In accordance with the Government's deposit insurance program, investors can expect to offset up to 10 million yen (about 111 thousand dollars).